Bailard Inc. Acquires New Position in Costamare Inc. (NYSE:CMRE)

Bailard Inc. bought a new stake in shares of Costamare Inc. (NYSE:CMRE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,863 shares of the shipping company's stock, valued at approximately $304,000.

Other institutional investors have also added to or reduced their stakes in the company. Bridgeway Capital Management LLC boosted its stake in Costamare by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,546,489 shares of the shipping company's stock worth $19,872,000 after purchasing an additional 29,354 shares in the last quarter. American Century Companies Inc. boosted its stake in Costamare by 18.8% in the 4th quarter. American Century Companies Inc. now owns 1,077,400 shares of the shipping company's stock worth $13,845,000 after purchasing an additional 170,412 shares in the last quarter. Federated Hermes Inc. boosted its stake in Costamare by 10.6% in the 4th quarter. Federated Hermes Inc. now owns 817,359 shares of the shipping company's stock worth $10,503,000 after purchasing an additional 78,377 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Costamare by 0.6% during the 4th quarter. Ameriprise Financial Inc. now owns 780,662 shares of the shipping company's stock valued at $10,032,000 after acquiring an additional 4,791 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Costamare by 10.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 607,944 shares of the shipping company's stock valued at $5,982,000 after acquiring an additional 57,643 shares during the period. Hedge funds and other institutional investors own 58.08% of the company's stock.

Costamare Price Performance

NYSE:CMRE traded down $0.01 during trading hours on Thursday, reaching $9.82. 133,555 shares of the company were exchanged, compared to its average volume of 497,400. The company has a current ratio of 1.55, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The stock's 50-day moving average is $9.02 and its 200-day moving average is $9.84. The firm has a market cap of $1.18 billion, a PE ratio of 4.03 and a beta of 1.20. Costamare Inc. has a twelve month low of $6.63 and a twelve month high of $15.96.

Costamare (NYSE:CMRE - Get Free Report) last released its earnings results on Thursday, May 8th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.09. Costamare had a net margin of 15.27% and a return on equity of 13.44%. The business had revenue of $440.54 million during the quarter, compared to analyst estimates of $330.14 million. On average, sell-side analysts anticipate that Costamare Inc. will post 2.52 earnings per share for the current fiscal year.

Costamare Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, July 21st. Costamare's payout ratio is 18.85%.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on shares of Costamare in a research note on Thursday, May 15th. They set a "hold" rating for the company.

Costamare Profile